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Biotech News International news Biotechnology news from around the world. |
- China approves Monsanto GMO food imports
- deCODE and Merck form drug development alliance
- FDA approves Genentech Avastin
- Fresenius AG exceeds financial targets with US$ 5.5 billion in revenue
- Merck acquires Aton Pharma enhancing cancer research program
- Nations discuss Cartagena Protocol on biotech safety
- Novartis, Genentech and Tanox settle three-party dispute
- Pevion and AlgoNomics establish peptide viral vaccine collaboration
China approves Monsanto GMO food imports
February 20 – China's ministry of agriculture has approved permanent import safety certificates for genetically modified varieties of soybeans, corn and cotton produced in the US by Monsanto. China is yet to approve an additional six GMO corn varieties and an unspecified number of transgenic canola strains from various exporting countries. The approval eases trade relations with exporting countries such as the US since the Agricultural Ministry and the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ), issued new GMO import regulations in January 2002, said to have cost the US soybean growers more than US$200 million. US trade officials subsequently negotiated an agreement to allow for uninterrupted trade of GMO imports while Chinese authorities conducted safety assessments of the products needed to comply with the new import regime. While China has previously approved the import of specific varieties of GMO cotton, the latest approvals are the first for GMO food products.
[Source: Checkbiotech]
deCODE and Merck form drug development alliance
February 26 – deCODE genetics announced the formation of a seven-year alliance with Merck & Co. under which deCODE will conduct clinical trials on a range of developmental compounds. Under the terms of the agreement, deCODE will receive royalties on sales of drugs and diagnostics developed as part of the alliance. deCODE will also receive a one-time technology access fee and will share research funding for the clinical development of compounds and pharmacogenomic analysis, and will receive milestone payments as compounds or pharmacogenomic tests reach the market. In addition, Merck has purchased $10 million of deCODE common stock at a price of $14.50 per share, and has received a warrant to purchase up to $50 million of additional shares of deCODE stock at $29.00 per share over the next five years.
[Source: Company Announcement]
FDA approves Genentech Avastin
February 26 – The US Food and Drug Administration has approved Genentech's Avastin to be used in combination with intravenous 5-Fluorouracil-based chemotherapy as a treatment for patients with metastatic cancer of the colon or rectum. Avastin is the first FDA-approved therapy designed to inhibit angiogenesis, the process by which new blood vessels develop, necessary for tumour growth and metastasis. The approval was based on data from two trials. Patients in the trial treated with Avastin and IFL chemotherapy were shown to have prolonged survival up to 5 months, the longest obtained in any study of patients with metastatic colorectal cancer.
[Source: Company Announcement]
Fresenius AG exceeds financial targets with US$ 5.5 billion in revenue
February 25 – Fresenius Medical Care AG has reported net revenues of $5,528 million and an operating income of $757 million for the 2003 financial year, a 9 per cent increase in the previous years figures, exceeding projected targets. 'We achieved another record operating and free cash flow for 2003 and we are confident that our global strategy is on the right track,' stated Fresenius CEO, Ben Lipps. Dialysis product and clinical care revenue increased internationally by 18 and 34 per cent respectively. Operating and free cash flow increased 37 per cent due to improvements in working capital management. The strong performance has prompted the company to propose its seventh consecutive dividend increase of 8 per cent to 1.02 Euro (AU $1.70) per ordinary share.
[Source: Company Announcement]
Merck acquires Aton Pharma enhancing cancer research program
February 23 – Aton Pharma, a privately held biotech specialising in treatments for cancer has entered an agreement in which Aton will become a wholly owned subsidiary of Merck. The acquisition will consist of upfront and contingency payments based on regulatory filing, approval and sale of products. Aton will continue to develop its lead product candidate, suberoylanilide hydroxamic acid (SAHA), a cancer treatment for cutaneous T-cell lymphoma, and believes Merck provides the best opportunity for commercialisation. The acquisition will significantly enhance Merck's internal research efforts to develop new medicines for the treatment of cancer. The two companies are expected to complete the acquisition in within the first quarter of 2004.
[Source: PharmaLive]
Nations discuss Cartagena Protocol on biotech safety
February 24 – Over 1000 government and relevant delegates from 84 countries will attend the first meeting of the Parties to the Cartagena Protocol on Biosafety held this week. Adopted in January 2000 as a supplementary agreement to the Convention of Biological Diversity (CBD), the Cartagena Protocol diversity from the potential risks that may be posed by genetically modified organisms (GMOs), resulting from modern biotechnology. It establishes an Advance Inform Agreement procedure for ensuring that countries are provided with the necessary data to make informed decisions on whether to import such organisms. The Protocol also establishes a Biosafety Clearing-House to facilitate the exchange of information on GMOs and to assist countries in the implementation of the protocol. The first meeting will deal specifically with the issues of information sharing; capacity building; liability and redress, compliance; as well as handling, transport and packaging of GMO's.
[Source: Convention on Biological Diversity]
Novartis, Genentech and Tanox settle three-party dispute
February 26 – Novartis, Genetech and Tanox have settled litigation involving their three-party collaboration, begun in 1996, to develop and commercialise certain anti-IgE antibodies including Xolair, a treatment for peanut allergy, and THX-901. The settlement disclosed that Genentech and Novartis will each reimburse Tanox US$ 3.3 million for a portion of its TNX-901 development costs. Tanox will relinquish any rights to manufacture Xolair and, in exchange, will receive payments based on the quantity of Xolair produced. Genentech and Novartis share US marketing rights for all collaboration products as in the original agreement, while Novartis has marketing rights outside the US. Existing royalty and profit sharing percentages will remain unchanged. Committees with representatives from all three companies have been established to co-operatively oversee further development and commercialisation of Xolair.
[Source: Company Announcement]
Pevion and AlgoNomics establish peptide viral vaccine collaboration
February 25 – Swiss-based Pevion Biotech and Belgium-based AlgoNomics will collaborate on the design on RSV (Respiratory Syncytial Virus) derived peptides to develop vaccines against the common cold. AlgoNomics Tripole technology will be used to extensively model the peptides and explore their interactions with relevant proteins. The procedure will expose those peptides that exhibit a strong and protective antibody response when formulated with Pevion's virosome technology. The result is a near synthetic vaccine that both parties claim will allow rapid screening of RSV vaccine candidates to enter into initial clinical trials.
[Source: Joint Company Announcement]
